Aviva Equity Release Solicitor Panel Example Support Desk Enquires from members of the public
I would like to know the reason why all property lawyers aren't included on the Aviva Equity Release Conveyancing panel?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
We are only a couple days away from an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Aviva Equity Release. I am advised that, being on the Aviva Equity Release conveyancing panel and acting on their behalf he must inform Aviva Equity Release if the balance of the mortgage advance is coming from anyone other than me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Aviva Equity Release to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Aviva Equity Release if you agree, failing which, your lawyer must cease to continue acting.
Do I need to pop into the offices of the Aviva Equity Release conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in London
so that I can attend their offices if necessary.
Most conveyancing panel lawyers for Aviva Equity Release undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
The lawyers that I appointed last week on my house acquisition in Hendon has without warning shut down. They were on acting for me because I needed a lawyer on the Aviva Equity Release conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Aviva Equity Release conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
is it true that all conveyancing solicitors on the Aviva Equity Release conveyancing panel overseen by the SRA?
As solicitors, in order to be on the Aviva Equity Release conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My existing mortgage is with Aviva Equity Release. My grandfather retired last week and wants to pay off my mortgage. After Aviva Equity Release is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Aviva Equity Release conveyancing panel? I do not intend to live at the property once the Aviva Equity Release mortgage is discharged.
You
will need a solicitor but they need not be on the Aviva Equity Release conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
Planning on purchasing a house with a mortgage with Aviva Equity Release. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aviva Equity Release conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Aviva Equity Release conveyancing panel
